COPT Defense Properties (NYSE:CDP) Trading Up 1.8% Following Analyst Upgrade

COPT Defense Properties (NYSE:CDP) shares rose 1.8% during mid-day trading on Wednesday after BTIG Research raised their price target on the stock from $33.00 to $38.00. BTIG Research currently has a buy rating on the stock. COPT Defense Properties traded as high as $33.36 and last traded at $33.29. Approximately 216,646 shares changed hands during trading, a decline of 75% from the average daily volume of 872,138 shares. The stock had previously closed at $32.70.

CDP has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on shares of COPT Defense Properties from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Wedbush increased their price target on COPT Defense Properties from $28.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company dropped their target price on COPT Defense Properties from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Wednesday, September 11th. Evercore ISI lifted their price target on COPT Defense Properties from $33.00 to $36.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Truist Financial raised their target price on shares of COPT Defense Properties from $27.00 to $31.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, COPT Defense Properties presently has an average rating of “Moderate Buy” and an average price target of $31.75.

Insider Activity

In related news, COO Britt A. Snider bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average cost of $29.41 per share, for a total transaction of $29,410.00. Following the acquisition, the chief operating officer now owns 2,000 shares in the company, valued at $58,820. This represents a 100.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.06% of the company’s stock.

Institutional Trading of COPT Defense Properties

A number of hedge funds have recently made changes to their positions in CDP. CWM LLC grew its holdings in COPT Defense Properties by 1.4% during the 3rd quarter. CWM LLC now owns 35,098 shares of the company’s stock valued at $1,065,000 after purchasing an additional 475 shares in the last quarter. Fifth Third Bancorp grew its stake in shares of COPT Defense Properties by 1.0% during the second quarter. Fifth Third Bancorp now owns 58,401 shares of the company’s stock valued at $1,462,000 after acquiring an additional 574 shares in the last quarter. Arizona State Retirement System increased its position in shares of COPT Defense Properties by 1.9% during the second quarter. Arizona State Retirement System now owns 31,508 shares of the company’s stock worth $789,000 after acquiring an additional 578 shares during the last quarter. Carmel Capital Partners LLC increased its stake in shares of COPT Defense Properties by 3.5% in the third quarter. Carmel Capital Partners LLC now owns 17,300 shares of the company’s stock worth $525,000 after buying an additional 584 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in COPT Defense Properties by 3.4% during the 3rd quarter. M&T Bank Corp now owns 21,226 shares of the company’s stock valued at $644,000 after acquiring an additional 701 shares during the last quarter.

COPT Defense Properties Stock Performance

The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of 27.26 and a beta of 0.98. The company’s fifty day simple moving average is $31.43 and its two-hundred day simple moving average is $28.39. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.38 and a current ratio of 2.38.

COPT Defense Properties (NYSE:CDP) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.32). COPT Defense Properties had a return on equity of 8.99% and a net margin of 18.34%. The firm had revenue of $189.23 million for the quarter, compared to the consensus estimate of $167.37 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up 12.3% compared to the same quarter last year. Equities research analysts predict that COPT Defense Properties will post 2.57 earnings per share for the current fiscal year.

COPT Defense Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.295 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.18 annualized dividend and a yield of 3.58%. COPT Defense Properties’s dividend payout ratio is presently 96.72%.

About COPT Defense Properties

COPT Defense, an S&P MidCap 400 Company, is a self-managed REIT focused on owning, operating and developing properties in locations proximate to, or sometimes containing, key U.S. Government (USG) defense installations and missions (referred to as its Defense/IT Portfolio). The Company's tenants include the USG and their defense contractors, who are primarily engaged in priority national security activities, and who generally require mission-critical and high security property enhancements.